The counsel for Barrick Gold informed the apex court that if by December 15, 2022, the agreement is not signed between Balochistan and Barrick Gold then Pakistan would have to pay over $9 billion. In 2019, the World Bank’s arbitration tribunal imposed a penalty on Pakistan for unlawful denial of mining. After a decade-long legal battle, Pakistan announced the out-of-court…
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October 2022 marked the fifth month in a row, where electricity generation went down year-on-year. Even peak Covid saw the generation go down for no more than three months at a stretch. This is now in FY19 territory, where the economic slowdown led to negligible GDP growth, largely towards the end of fiscal year. Never before or since, has power…
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The United States Agency for International Development (USAID) and Ministry of Energy, Government of Pakistan on Tuesday launched the first end-consumer mobile application for smart electricity meters at the Multan Electric Power Company (MEPCO) Headquarters in Multan LAHORE, (APP – UrduPoint / Pakistan Point News – 22nd Nov, 2022 ) :The United States Agency for International Development (USAID) and Ministry…
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The building has nine floors housing all offices of Directorate General Petroleum Concession, Directorate General Oil, Directorate General Gas, Directorate General LGS, Directorate General Special Projects and Directorate General Mines and Minerals. In addition, the offices of GHPL, Pakistan LNG Limited, Inter State Gas System, Saindak Metals Limited and LMKR are also in that building. All employees working in these…
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To better tackle distribution of oil and gas products across the country and tackle shortages, the federal government has drafted a bill to establish Pakistan Petroleum Upstream Regulatory Authority. Once passed, the bill help create a body to regulate oil and gas exploration companies in the all four provinces of the country apart including issuing licenses and registering them. The…
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Crude oil is probably the single most important commodity in the world right now, and it has been so, since the last 100 years. The byproducts of this oil are petrol, diesel, jet fuel, Natural Gas, Furnace oil and lubricants etc. There are more than 50 thousand oil wells in the whole world and each one of them has a…
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OPEC’s de facto leader Saudi Arabia and OPEC+’s other members are discussing an oil production increase, OPEC delegates said on Monday, according to the Wall Street Journal. The full group will meet next on December 4 to set out OPEC+’s production plans for January 2023—and the group is reportedly considering an increase of up to half a million barrels a…
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One of the under-reported factors behind the ongoing diesel shortage is the loss of U.S. refining capacity since the start of the Covid-19 pandemic. Today I will discuss the factors that led to this loss. According to the Energy Information Administration (EIA), at the beginning of the pandemic U.S. refiners had 19.0 million barrels per day (BPD) of operable refining…
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Europe’s largest battery energy storage system by megawatts per hour will be officially online from today, marking a new era in power diversification in the UK. Harmony Energy Income Trust, which invests in battery energy storage assets in Britain, today unveiled its first portfolio project of 196 MWh in Pillswood, East Yorkshire – which uses Tesla technology to store energy.…
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Ms/Engro Powergen Thar Limited (EPTL) has expressed its concern over the delay in construction of dedicated transmission line for SECL (Thar Block-1) and lack of preventive maintenance at Block-2. In a letter to Managing Director NTDC and CEO CPPA-G, CEO M/s EPTL, Syed Manzoor Hussain Zaidi, EPTL has drawn the attention to longstanding issues of delays in construction of dedicated…
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